The building society, whose offering included a popular lifetime mortgage with no early redemption charge, says it has pulled its equity release range so as to review the proposition.
A spokesman says: “We are looking at the cost of lending and as a result will not be offering any new equity release products at this time.”
Coventry could not put a date on a return but says it “may be some time” before a new range of products are released.
The spokesman says: “We remain dedicated to the industry and are still a full member of Safe Homes Income Plans. We will also carry on to service all existing clients.”
Charterhouse Retirement Solutions director Terry Pritchard says: “It is a shame to see such an innovative provider forced to partially close its doors because of the current market conditions. We hope to see them return to full lending soon.”